Ethena Taps TON to Deliver Stablecoin Access to Millions on Telegram

Ethena Labs is extending the reach of its synthetic dollar, USDe, through a new alliance with the TON blockchain—bringing the digital asset to Telegram’s vast user network.

This integration makes USDe usable directly within the messaging app, enabling seamless peer-to-peer payments and decentralized finance access for millions.

USDe, a yield-generating stablecoin built on Ethereum but designed for omnichain movement via LayerZero’s OFT standard, is now accessible across more than 20 blockchains.

With TON added to that list, Ethena is deepening its presence in ecosystems beyond Ethereum and making a direct play for mass adoption via mobile-first platforms.

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The collaboration focuses on embedding USDe into key components of the TON ecosystem: non-custodial wallets like TON Space, Telegram’s built-in custodial wallet, and major decentralized finance protocols on the network.

The goal is to position USDe as a go-to digital dollar for saving, spending, and earning yield—all within Telegram’s familiar interface.

Following the news, Ethena’s native token ENA saw a modest intraday price bump but remains under broader bearish pressure. TON’s own native asset, Toncoin, dipped despite the announcement, with technical indicators also pointing to short-term weakness for both tokens.

Alexander Stefanov